Five Effective Ways in Solving Estate Tax
Do you find it difficult to solve to compute the estate tax? This article provides five tips on how to compute the estate tax and prepare the estate tax returns in 2021.
TAXGURO
Tax Expertise at Your Fingertips – Plan Better, Save More!
TAXGURO
Tax Expertise at Your Fingertips – Plan Better, Save More!
Read MoreFive Effective Ways in Solving Estate Tax
How to Start Sari sari Store in the Philippines?
Is sari-sari store in the Philippines subject to tax? Is there any way to exempt sari-sari store from business taxes and individual tax? Read this article to know how to register your business in the Bureau of Internal Revenue. You will learn also how to reduce taxes from your sari-sari store.
Approved Train Law of the New Philippine Tax Reform 2020
Here are the lists of 13 approved tax reform in 2018 under the RA 10963 signed by the President of the Republic of the Philippines and implemented on the 1st day of January 2018. This update includes the new income tax rates, documentary stamp tax, donor's tax rate, estate tax, excise taxes, fringe and de minimis benefits and other approved train tax law reform.
De minimis Benefits:Comprehensive Guide
Under the new tax reform there are new de minimis thresholds and new ruling for the computation of income tax. There are list of benefits that remains the same as before and some were changed. There is also an illustrative and computation on how to compute income tax under this new de minimis thresholds.
Withholding Tax and Tax Rates under Train Law
Here are the updates of withholding tax in the Philippines under the new tax reform- TRAIN law 2018. It includes the updated withholding tax rates. The definition of the withholding tax is also well define. What are the income subject to withholding tax for a citizen, resident alien in the Philippines?. There are other income received by the resident citizen subject to withholding tax rate.
BIR Extends Deadline for Online Business Registration
Businesses involved in the selling of goods and services through digital transactions (online stores) have until August 31, 2020, to register or update their registration information with the Bureau of Internal Revenue (BIR) without the imposition of penalties. This Revenue Memorandum Circular (RMC) No 75-2020 issued by the BIR on July 29, 2020.
New BIR Form 1709 issued for Related Party Transactions
The Bureua of Internal Revenue issued new BIR Form 1709 to replace 1702H for related party transactions. RR 19-2020 clerealy stated the information to be disclosed and the necessary requirements in filing.
Filing Real Property Tax in the Philippines
Easy way of filing Real Property Tax in the Philippines. It also includes how real property is valued and the tax rate imposed.
VAT Invoices Update under Train Law 2018
Does this train tax law reform affect your business? If yes, your sales income or receipts might not be subject to value-added tax 2018. Hence, your receipts with VAT registered are no longer necessary. Yes, receipts are significant to help…
How to Apply Online TIN number
Due to the HOME QUARANTINE, the application of TIN online would be tough. Because of this delimna, the government issued RMO 20-2015 to apply TIN Number online. READ more to know...
Income Tax Train Law and New Tax Rates 2021
These are the things you should know before filing your income tax this year under TRAIN law 2018. If you are a student who is studying taxation, these things will help you to understand the new income tax in the Philippines under the RA 10963 otherwise Known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act. Learn 6 things about the new income tax ratw 2018.
Must Read: COVID19 Tax Exemptions Update
To combat the spread of this COVID-19, the government issued Republic Act No. 11469 known as “Bayanihan to Heal as One Act”